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Arista Networks profit misses consensus by 50.1% in Q3

Arista Networks Inc. said its normalized net income for the third quarter amounted to 27 cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS decreased 8.2% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $19.1 million, a decline of 5.4% from $20.2 million in the prior-year period.

The normalized profit margin dropped to 8.8% from 13.0% in the year-earlier period.

Total revenue increased 39.9% on an annual basis to $217.5 million from $155.5 million, and total operating expenses grew 53.2% from the prior-year period to $186.3 million from $121.6 million.

Reported net income rose 33.3% from the prior-year period to $28.3 million, or 39 cents per share, from $21.3 million, or 30 cents per share.